Certificate of Eligibility
In order to be approved for a VA loan you must have a Certificate of Eligibility, which is issued by the Department of Veterans Affairs. This document demonstrates that you have met the service qualifications for a VA loan and thus insuring the lender that the Department of Veterans Affairs will guarantee the loan for which you will ultimately qualify.
Requesting your Certificate
You have two basic options for requesting your certificate of eligibility. You can request it from the Department of Veterans Affairs or you can apply directly through a qualified VA lender like Home Savings.
Requesting the Certificate from the VA
To request the Certificate from the VA, you must submit VA Form 26-1880 along with for DD214. Please note that the VA currently states that applicants will receive a response within approximately ten days. Because of this delay, submit these documents as soon as possible to expedite your mortgage pre-approval.
Applying Through Your Lender
Often during the home buying process, timing is essential to obtaining the home that best meets your needs and desires. When you find that home, you need to work quickly and waiting for your Certificate of Eligibility opens the door for someone else to potentially buy the home in which you are interested.
Because we understand the need to move quickly, we are pleased to offer Automated Certificate of Eligibility (ACE) services. ACE enables us to obtain the Certificate of Eligibility instantly for any veteran who has the DD 214 document available. Because it works so quickly, ACE is the best way to apply for your Certificate of Eligibility, so speak with one of our VA Loan Specialists today to find out if you can use this service. If you do not have the DD 214 form, we will assist you as you apply for the Certificate through the VA.
If you are ready to take the next step toward homeownership with the use of your VA home loan entitlement, please call one of our loan specialists today at (619) 623-0633